The upper chamber of the Italian parliament approved a rage of austerity measures aimed at curbing the country’s public debt, which is now over $2.6 trillion.
Some EU leaders and big-scale investors are concerned that without efficient steps by the Italian authorities and without some external financial support the eurozone’s 3rd largest economy may well collapse. Yet, the salvation of Italy will require much more money than the aid given to Greece, Ireland or Portugal .
According to the DFWA Department of , the analysis of mid-term fluctuations of EURUSD shows that last week there was a strong rebound from the “heavy” moving average (which represented a major resistance). The retracement formed a downswing and a correction against it. However, so far there is been no 3rd downswing. It is expected to be formed in the short run. The closest level of support is 1,34.
